Ann: Acquisition of LIFX and Share Placement, page-144

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Indoor application to hold larger share of smart lighting market by 2023

Indoor application (residential, commercial, and industrial) is expected to hold a larger size of the smart lighting market during the forecast period. In residential applications, smart lighting can be installed according to the requirement of a particular room or an entire house. The incorporation of wireless technology in smart lightings would help the market for residential indoor application to grow at a high rate. The commercial application of smart lighting includes the implementation of these lightings in offices, retail shops, shopping malls, and hospitality infrastructure. Reducing energy consumption has become a major objective for building owners, governments, utilities, and other stakeholders. Replacing existing lights with more energy-efficient lighting sources, such as LEDs, is one of the ways to reduce massive energy consumption; however, it is a small-scale solution for the issue. On a large scale, energy consumption can be reduced by turning the lights off when not required, optimizing light levels to suit the workers’/occupants’ needs, and reducing the overall demand for lighting energy. These measures come under smart lighting arrangement, which is the best way to ensure the automatic reduction in energy consumed in the lighting task.

https://www.marketsandmarkets.com/PressReleases/smart-lighting.asp